The upcoming report from ConocoPhillips (COP) is expected to reveal quarterly earnings of $3.06 per share, indicating an increase of 90.1% compared to the year-ago period. Analysts forecast revenues of $18.32 billion, representing an increase of 18% year over year.
Over the last 30 days, there has been an upward revision of 25.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts’ collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts’ projections for some of the company’s key metrics often helps gain a deeper insight.
Bearing this in mind, let’s now explore the average estimates of specific ConocoPhillips metrics that are commonly monitored and projected by Wall Street analysts.
According to the collective judgment of analysts, ‘Revenues- Sales and other operating revenues’ should come in at $18.44 billion. The estimate indicates a change of +22.7% from the prior-year quarter.
Based on the collective assessment of analysts, ‘Revenues- Equity in earnings of affiliates’ should arrive at $262.91 million. The estimate points to a change of -23.8% from the year-ago quarter.
The consensus estimate for ‘Sales and Other Operating Revenue- Alaska’ stands at $1.66 billion. The estimate points to a change of +15% from the year-ago quarter.
The consensus among analysts is that ‘Sales and Other Operating Revenue- Europe, Middle East and North Africa’ will reach $2.20 billion. The estimate points to a change of +39.6% from the year-ago quarter.
The average prediction of analysts places ‘Sales and Other Operating Revenue- Lower 48’ at $12.35 billion. The estimate suggests a change of +17.2% year over year.
Analysts’ assessment points toward ‘Natural gas liquids produced per day – Total company’ reaching 418.21 thousands of barrels of oil. Compared to the current estimate, the company reported 436.00 thousands of barrels of oil in the same quarter of the previous year.
Analysts expect ‘Natural gas produced per day – Total company’ to come in at . The estimate compares to the year-ago value of .
The collective assessment of analysts points to an estimated ‘Total production per day’ of 2,303.48 thousands of barrels of oil equivalent. The estimate compares to the year-ago value of 2,399.00 thousands of barrels of oil equivalent.
Analysts predict that the ‘Crude oil produced per day – Total company’ will reach 1,118.02 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 1,146.00 thousands of barrels of oil.
It is projected by analysts that the ‘Bitumen produced per day’ will reach 109.30 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 123.00 thousands of barrels of oil.
The combined assessment of analysts suggests that ‘Average Sales Price – Crude oil – Total company per bbl’ will likely reach $88.15 . Compared to the present estimate, the company reported $66.13 in the same quarter last year.
Analysts forecast ‘Average Sales Price – Natural gas – Total company’ to reach $4.64 . Compared to the current estimate, the company reported $4.28 in the same quarter of the previous year.
View all Key Company Metrics for ConocoPhillips here>>>
Over the past month, ConocoPhillips shares have recorded returns of +14.4% versus the Zacks S&P 500 composite’s -2.3% change. Based on its Zacks Rank #1 (Strong Buy), COP will likely outperform the overall market in the upcoming period. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
